The launch of PROMAFT Partners, a Rs 1,000 crore venture capital fund, has been announced by Soham Avlani, a former partner at 9Unicorns, and Raghav Bahl, the former head of investments at Alibaba Group’s India business.
Bahl was vice president at Alibaba before overseeing investments.
Avlani was an investor in the public market, and Bessemer Venture Partners is a global fund with locations in the US, Israel, and India.
The sector-neutral fund intends to make investments in businesses that demonstrate “product-market fit.” Additionally, it intends to make two to three investments annually, or ten to twelve total.
Along with their support as mentors for the fund’s portfolio companies, Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse are among the leading Indian family offices and market players backing the fund.
In order to assist startups with hiring, financing, and business strategy development, the general partners intend to take advantage of their extensive experience in global investing throughout China, Southeast Asia, and Europe.
